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Compute the Sophia allowable tax deduction

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Reference no: EM132621781

Question - In the current income tax year, Sophia has provided you with the following information:

A receipt for a donation to the Red Cross (endorsed by the ATO) of $100

A receipt for $200 for an auction prize bought at her local tennis club auction night

A receipt for $300 for a donation to the Starlight Foundation (endorsed by the ATO)

A copy of her raffle tickets for a prize auction at her local school. She spent $20 on the tickets

A receipt for $5 for a donation to the RSL on Anzac Day. (The RSL is a deductible gift recipient)

Required - Compute the Sophia's allowable tax deduction for the current income tax year?

A. $605

B. $300

C. None of these

D. $625

E. $405

Reference no: EM132621781

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